Market Report Mar 24 2022

  • Post author:

Market Report for Mar 24 2022

S&P 500 and Nasdaq Composite charts

Market Trend:
S&P 500 = Mixed
Nasdaq Composite = Mixed

Stock Market %:
DJIA: -1.29
Nasdaq Composite: -1.32
S&P 500: -1.23
UK FTSE 100: -0.22

Market Volume:
NYSE Vol: 944 mln (Below)
Nasdaq Vol: 4.92 bln (Below)

Yields:
2-yr: -3 bps to 2.12%
3-yr: -5 bps to 2.33%
5-yr: -4 bps to 2.34%
10-yr: -6 bps to 2.32%
30-yr: -8 bps to 2.52%

Comments:
We were somewhat expecting a low volume bearish bar for Wednesday and we got it. Biggest drop for the Dow since March 7 2022. Other than Energy and Utilities, all the sectors ended negative for the day.

The fall in market levels was in part due to rising oil, new homes sales fell in February and aggressive increase in interest rates from other Fed officials did not help, although the market has factored in a good portion of the rate hikes.

We continue to look for buying opportunities.

Let’s go trade!